SSE profits up as spree of asset sales nears £2billion
SSE maintained healthy profits in 2020, despite the impact of the Covid-19 pandemic, racking up proceeds from assets sales of nearly £2billion.
West of Shetland
‘Upheaval and frustration’ as Hurricane Energy sinks to losses of £440million
Hurricane Energy has sank to losses of £440million, underscoring the troubles of the west of Shetland operator.
Siccar Point losses widen as key Cambo and Rosebank decisions await
Losses at Siccar Point Energy more than doubled in 2020 as the North Sea operator looks ahead to key decisions on its flagship Cambo field and the Equinor-operated Rosebank.
‘All-subsea’ development among the options for BP at Clair South
Energy giant BP has confirmed that a subsea development is among the options being weighed up for its Clair South project, west of Shetland.
Updated: End of the line in sight for Hurricane Energy
Bosses at Hurricane Energy have conceded that the troubled UK oil firm is likely to be wound down within the next few years.
Hurricane reports unscheduled well intervention at Lancaster
Hurricane Energy said today that an “unscheduled well intervention” was required on its Lancaster field, west of Shetland.
BP preparing for removal of ‘iconic’ vessel from Foinaven field
BP has started preparing for the removal of the "iconic" floating production, storage and offloading vessel (FPSO) on its Foinaven field.
‘Another twitch in the death throes’ for Hurricane Energy
A major downgrade in reserves, a written-off discovery and warnings of a shareholder wipeout are a “real blow to investors and debt holders” of Hurricane Energy, an analyst has said.
Hurricane Energy: ‘No certainty of any future activity’ on West of Shetland assets
Hurricane Energy has stated there is “no certainty of any future activity” on its West of Shetland assets, including its flagship Lancaster field, following a new reserves report.
No movement on UK exploration activity since December
Westwood Global Energy reports that as of March 31 there was one exploration well and one appraisal well active in the UK, with no change since the end of December.
‘The next place to look is the UK’ says Ineos Energy chairman Gilvary
The UK North Sea is next on the list of growth targets for Ineos Energy, according to executive chairman Brian Gilvary.
Hurricane Energy dashes hopes for new Lancaster well in 2021
Hurricane Energy today dashed hopes that it could boost production from its Lancaster field, west of Shetland, with a new well in 2021.
UK remains ‘core position’ for Shell oil business amid net zero drive
Shell has named the UK North Sea as one of nine “core positions” for its oil and gas business going forward, as it today revealed its net zero strategy.
Safety inspectors find ‘cracks’ in hull of Foinaven FPSO west of Shetland
“Serious concerns” have been raised after inspectors found multiple “cracks” in the hull of the Foinaven FPSO west of Shetland, amid a catalogue of other safety issues.
‘Serious intent’ to get major west of Shetland oil projects to net zero – Orion
West of Shetland operators are working with “serious intent” to get huge new oil projects “to a net zero outcome”, according to the head of a major clean energy scheme on the islands.
Hurricane ‘engaging’ with stakeholders on funding for west of Shetland plans, shares rise
Hurricane Energy’s chief executive said today that the firm is currently “engaging with stakeholders” on funding for the further development of its Lancaster field.
BP close to completing Clair platform repair job
Energy giant BP said today that non-essential staff were returning to its Clair platform after an electrical fault led to a partial down-manning last week.
Electrical fault results in partial down-manning of BP platform
Energy giant BP has partially down-manned its Clair platform, about 45 miles west of Shetland, due to an "electrical fault".
SSE strikes deal to sell gas portfolio to Viaro, which offloads Brae area for 75p
Energy firm SSE has clinched a deal to sell its gas exploration and production assets to Viaro Energy for £120 million.
Faroese Government signals support for oil and gas exploration, says there are no plans to copy Denmark
The Faroe Islands Government has said it has no plans to follow Denmark’s decision to wind down oil and gas exploration.
Updated: Troubled Hurricane set for crunch talks with key stakeholders in bid to unlock funds
Troubled oil firm Hurricane Energy is preparing for crunch talks with key stakeholders in a bid to unlock funding for new wells on its Lancaster field, west of Shetland.
West of Shetland oil and gas remains UK’s best bet for growth despite recent setbacks
The West of Shetland oil and gas (WoS) basin has long been held aloft as the UK’s last great hope for indigenous oil and gas production growth.
Exclusive: Lancaster climbdown no surprise to geologist who clashed with OGA and Hurricane management
A retired geologist has claimed Hurricane Energy’s huge climbdown on its west of Shetland oil resource estimates could have been avoided if his warning had been heeded in 2016-17.
West of Shetland decommissioning spending on the rise
The total amount expected to be spent on decommissioning oil fields in the West of Shetland this decade has surged above £1billion.
Hurricane Energy downgrade ‘dashes hopes’ for UK production resurgance – Rystad
The “jaw-dropping” reserves downgrade from Hurricane Energy has “dashed hopes” of any major resurgence in UK offshore production, according to Rystad Energy.